I want the answer quickly DoD1* 102030405060Quantity (millions of hours per year)FinIn the figure above, Do is the demand for labor curve. Imposing a minimum wage of $3 per hour willSelect one:a.have no effect on the market.b. result in unemployment.C.result in a labor shortage.O d. immediately shift the demand curve to D1.寸3.Wage rate (dollars per hour)

Answer: (a). have no effect on the market. Explanation: Since the current market wage (equilibrium…

S Do 10 20 30 40 50 60 Quantity (millions of hours per year) In the figure above, Do is the demand for labor curve. Imposing a minimum wage of $3 per hour will Select one: O a. have no effect on the market. O b. result in unemployment. O C. result in a labor shortage. d. immediately shift the demand curve to D.. Wage rate (dollars per hour) 4-

S Do 10 20 30 40 50 60 Quantity (millions of hours per year) In the figure above, Do is the demand for labor curve. Imposing a minimum wage of $3 per hour will Select one: O a. have no effect on the market. O b. result in unemployment. O C. result in a labor shortage. d. immediately shift the demand curve to D.. Wage rate (dollars per hour) 4-

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter20: Unemployment

Section20.3: Minimum-wage Laws

Problem 3QQ

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